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Betterment

Friday’s need-to-know money news

July 26, 2019 By Liz Weston

Today’s top story: Why you need a midyear budget check-in. Also in the news: Betterment hikes APY to 2.69% and adds checking and savings accounts, upgrading from your broker, and why you should always pay for a rental car with a credit card.

Why You Need a Midyear Budget Check-In
Prepare for the holidays and next year’s taxes.

Betterment Hikes APY to 2.69%, Adds New Checking, Savings Accounts
Better rates than typically seen.

Wealth Management: Is It Time to Upgrade From Your Broker?
Is it time for an expert?

Always Pay for a Rental Car With a Credit Card
Get your insurance for less.

Filed Under: Liz's Blog, Uncategorized Tagged With: banking, Betterment, brokers, budget, budgets, checking account, rental cards, savings account, wealth management

Wednesday’s need-to-know money news

November 22, 2017 By Liz Weston

Today’s top story: What to do if an ATM eats your deposit. Also in the news: Betterment adds a charitable giving option, 3 things you definitely shouldn’t finance, and the best Cyber Monday sales for 2017.

What to Do if an ATM Eats Your Deposit
Don’t panic.

Betterment Adds a Charitable Giving Option
Just in time for Giving Tuesday.

3 things you definitely shouldn’t finance
Don’t take out that credit card just yet.

Best Cyber Monday Sales for 2017
No need to fight the crowds.

Filed Under: Liz's Blog Tagged With: ATM, Betterment, cyber Monday, deals, deposits, financing, Giving Tuesday, investment, sales

How you can benefit from the robo-advisor price war

July 9, 2015 By Liz Weston

iStock_000014977164MediumDigital investment advisor Wealthfront snagged some headlines this week by dropping its minimum investment from $5,000 to $500 and calling out its competitors, particularly Betterment, for charging too much.

Which is kind of unfortunate, because it could leave people with the impression that Betterment is gouging people, when it (like most of the other robo-advisors) charges a fraction of what other advisors do, and Betterment has no minimum investment requirement.

Betterment’s charge ranges from .15% to .35%. On accounts under $10,000, Betterment charges a minimum monthly fee of $3 unless investors set up auto-deposit. Wealthfront manages the first $10,000 you invest for free, and charges one-quarter of one percent (.25%) above that.

By contrast, many human advisors charge 1%, or even more, to manage investments. If you’re not familiar with robo-advisors, you can read about them here and here.

Roboadvisors, in other words, are providing the cheap, conflict-free investment management that many people, especially those without big portfolios, have been waiting for. They’re even a possible lower-cost solution for those with big portfolios, now that Vanguard is offering a robo-advisor service paired with access to human financial advisors for a .3% annual charge.

If you’re intrigued by the idea of low-cost investment management, don’t let a little dust-up between competitors dissuade you. Check out your options and make up your own mind.

 

Filed Under: Liz's Blog Tagged With: Betterment, digital investment advisor, financial advice, financial advisor, Investing, robo-advisor, roboadvisor, Vanguard, Wealthfront

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